Broker Radar for December 6

Check out the stock commentaries and recommendations from brokerage houses.

Dec 06, 2019 03:12 IST India Infoline News Service

Buy Hold And Sell Dice Represents Stocks Strategy
UBS maintained ‘Sell’ on JSW Energy with a TP of Rs68
  • Spot power prices remain under pressure post-monsoon season.
  • Subdued power demand to continue impinging on merchant rates.
  • Weakening power demand growth; spot prices at Rs2.7-2.8/kWh.
Nomura maintained ‘Buy’ on Reliance Industries; hiked TP to Rs2,020 from Rs1,785
  • Sharp tariff increase further improves the outlook.
  • More tariff hikes look likely.
  • Jio tariffs still at discounts to peers; market share gain will likely sustain.
HSBC maintained ‘Buy’ on Bharti Airtel; hiked TP to Rs540 from Rs510
  • The equity raises likely creating a near-term share sale overhang on the stock.
  • Fundraise bodes well for its balance sheet in the medium term.
  • Expect regulatory clarity to emerge on multiple issues over the next few weeks.
JPMorgan maintained ‘Neutral’ on Zee Entertainment; hiked TP to Rs320 from Rs260
  • Advertising revenue growth remains muted.
  • Domestic subscription revenue growth is healthy.
  • Improvement in the balance sheet and cash flow and success of Zee5 key for stock re-rating.
Macquarie upgraded to ‘Outperform’ from ‘Neutral’ on Tata Power; cut TP to Rs76 from Rs83
  • Expect Mundra tariff resolution in the next two quarters.
  • Multiple triggers ahead: disinvestments from non-core, growth in renewables and distribution.
  • Believe the stock is way too attractive.
Source: Media reports

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